Report on International Finance 2022

Running head: INTERNATIONAL FINANCE
International Finance
Name of the Student:
Name of the University:
Author’s Note:

INTERNATIONAL FINANCE1
Table of Contents
Task 1: Presentation with Supporting Notes...................................................................................2
Objectives of International Accounting Standards......................................................................2
Relevant Accounting Standards...................................................................................................3
Task 2: Financial Report..................................................................................................................4
Effect of International Accounting Standards on Financial Statements......................................4
Contribution of International Financial Market and Financial Instruments for Financing.........5
Exchange Rates............................................................................................................................6
Task 3: Case Study Paper................................................................................................................6
Case Study on Capital Requirements of Walmart Incorporation................................................6
Task 4: Information Sheet...............................................................................................................9
References......................................................................................................................................12

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Task 1: Presentation with Supporting Notes
Objectives of International Accounting Standards
The role of accounting standard is to communicate the financial position of an
organisation to the various stakeholders of the company indicating the financing performance of
the company. The Accounting Standards thereby provide a system of various principles and rules
that would describe the format and the material information’s contained in the financial
statements of the company. The financial information provided by the management of the
company clearly describes the financial position of the company and the various activities
carried out by the management of the company. There are different cultures, languages and
social and economic traditions and the accounting policies followed by companies operating in
these countries follow different accounting policies. It is very important that the accounting
policies of the company stays well consistent with the International Accounting Standards so that
the stakeholders and the financial users of the company can be able to well analyse the financial
position and performance of the company. The key objectives of the International Accounting
Standards are as follows:
 Catalysing the corporate report presentation in a more cohesive and efficient way thereby
incorporating various accounting report standards for better communicating a range of
various factors that would be materially affecting the ability and value creation of an
organisation on a timely basis (International Accounting Standards 2019).
 Allocation of Resources can be done in a better informed ways by the financial providers
which would be helping better creation of wealth for short and medium term (Integrated
Reporting 2019).

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 Enhancement of accountability and Stewardship along with the broad base of economic
social and financial relationship thereby promoting the interrelationship and
understanding the interdependencies between them.
Relevant Accounting Standards
 Inventory Valuation: The IAS 2 Inventories has relevant requirements and information
that can be used for the purpose of valuation of inventory. The standard clearly states that
the valuation of the inventories that would be measured at a lower of costs basis or at the
net realizable value, whereby outlining the acceptable methods for determining the costs,
including application of Fist in First out Basis and Weighted Average Cost (Iasplus.com
2019).
 Non-Current Assets: IAS 16 sets out the requirement of valuation of the non-current
assets of the company such as property, plants and equipment that is measured initially at
the cost price and is then subsequently measured according to the revaluation model and
depreciated in order to get the depreciable amount that is allocated in a systematic
manner over the useful life of the assets (Iasplus.com 2019).
 Accounting Concepts and Conventions: IAS 8 States about the Accounting Concepts,
Policies and changes in the accounting estimates and errors that is applied for selecting or
applying the relevant accounting policies. Accounting for changes in the various
estimates and the reflection corrections of the prior period can also be taken into better
consideration by the company (Iasplus.com 2019).
 Features of International Finance: International Finance has its own set of
characteristics when compared and contrasted to financial management the key features
of international finance are Foreign Exchange Exposure that is associated with global and